Frequently Asked Questions

Which policy should I buy if my car was purchased using a personal loan?

Return To Invoice Insurance (RTI) and Vehicle Replacement Insurance (VRI) would both be suitable if the car was purchased using a personal loan.

RTI pays the difference between the motor insurer’s settlement, should the car be written off, and the purchase price of your car. RTI can be purchased if your car is brand new or up to 7 years old, and was purchased less than 3 months ago. The car can be purchased on a purchased based finance arrangement (Hire Purchase or Personal Contract Purchase), lease, personal loan, contract hire or paid for in cash. RTI is available for up to 4 years and with a claim limit of up to £25,000. The claim settlement in full is paid to you directly.

VRI pays the difference between the motor insurer’s settlement and the cost of a brand new car matching the original specification. VRI can be purchased if your car is brand new or first registered less than 3 months ago. The car can be purchased on a purchased based finance agreement (Hire Purchase or Personal Contract Purchase), paid for in cash or personal loan. Unfortunately, VRI is not currently available if the car was purchased using a lease agreement or contract hire. VRI is available for up to 3 years and with a maximum claim limit of £25,000. Again the settlement is paid to you in full.